Bally’s Intralot Q2 EBITDA Drops 16% After UK Remote Gaming Duty Hike
Bally’s Intralot has reported a significant dip in profitability for the second quarter of 2025, with the doubling of the UK’s remote gaming duty taking a heavy toll on earnings — even as UK online revenues reached a fresh record.
According to figures reported by Casino.org, group revenue for Q2 came in at €276.1 million, a 3% rise on the €268.1 million recorded in Q1. However, adjusted EBITDA slipped sharply from €100.2 million in Q1 to €84.6 million in Q2 — a fall of almost 16%.
UK Tax Change the Main Culprit
The primary cause of the EBITDA decline was the UK remote gaming duty increase, which jumped from 21% to 40% on 1 April 2025. Bally’s Intralot said the change reduced Q2 adjusted EBITDA by approximately €34 million. That is a substantial hit by any measure, and one that will be closely watched by other operators with meaningful UK exposure.
The silver lining is that the group managed to claw back around 65% of that impact through revenue growth and cost reductions. UK online revenue rose 5.3% quarter-on-quarter to a record high, adding €9 million versus Q1.
Combined Bally’s international interactive revenue grew 5.4% to €193.8 million, helped in part by a 9.7% rise in Spanish online revenue. Legacy Intralot operations moved the other way, with revenue slipping 2.3% to €82.3 million, partly due to a 21.8% decline in revenue from Turkish platform Bilyoner.
Evoke Deal Progressing
Bally’s Intralot also updated investors on its proposed takeover of Evoke, the group behind brands including 888 and William Hill. Regulatory reviews are under way and shareholders representing more than 40% of Evoke’s share capital have indicated support for the deal. An Evoke general meeting is set for 17 August, with completion targeted for Q4 2026 or Q1 2027, according to Evoke CEO Per Widerström.
Separation from Bally’s Corporation Stressed
CEO Robeson Reeves took the opportunity to distance Bally’s Intralot from concerns around Bally’s Corporation’s going-concern disclosure, which relates to financing for a US casino project. Reeves described Bally’s Intralot as “a separate, independently listed legal entity” and said its balance sheet and trading performance “remain strong.”
For the first half of 2025, group revenue totalled €544.2 million with adjusted EBITDA of €184.8 million.
For more on how UK gambling tax changes affect the industry, visit our casino news section, or head to our guides for an overview of how online casinos operate in the UK.
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